RE:RE:RE:If you can't have a decent dividend @74.00 wtiSure sure... let's all jump on the NCIB bandwagon. The same bandwagon this management team used regularly in the past to buy back shares that only served to offset the amount of new shares they gifted themselves through their generous employee compensation plan. I say hard "NO".
Reinstate a reasonable dividend now and let shareholders decide whether to reinvest in more shares or spend it elsewhere. Management and board have burned through all goodwill and trust of shareholders. If the company will be debt free in 3 to 4 years at current pricing and in a position to privatize, they have the capacity now to pay a decent dividend and show shareholders some respect.
If shareholders are not included in the wealth being generated, then I will be one of the fist in line to support a federal party that moves to nationalize the sector, punt all management teams/boards, have government/country receive all revenue and/or elect to leave the resource in the ground.
Moemoney42 wrote: They're also in a bit of a catch 22 situation.. do they buy back shares at this level first, before increasing the divi, as that would cause the share price to rise and buy backs more expensive.. I'd like to see a bit of NCIB buying appear in Q2 of this year.. and a 100% increase of the divi for Q3 or Q4 to 1/2 cent/quarter to start the process of appeasing shareholders a bit as well.. the optics of that increase would be a step in the right direction without increasing the share price that will cost too much for the NCIB.. JMHO.. LiquidOctopusV2 wrote: The company has said that they wanted to achieve a 1:1 FCF vs debt ratio before increasing the dividend. With $74 oil, if it holds, that should theoretically happen this year. I had estimated that to happen in in Q1 or Q2 next back when oil prices were lower. The recent rapid increases in the price of oil have really altered the landscape.
soundandfury wrote: When can you have a decent dividend?